First Horizon Advisors Inc. grew its position in The Timken Company (NYSE:TKR – Free Report) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,981 shares of the industrial products company’s stock after purchasing an additional 158 shares during the period. First Horizon Advisors Inc.’s holdings in Timken were worth $141,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of TKR. Thrivent Financial for Lutherans lifted its position in Timken by 4.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after purchasing an additional 107,350 shares during the period. State Street Corp lifted its holdings in shares of Timken by 3.5% in the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock valued at $164,689,000 after buying an additional 66,208 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Timken by 34.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock valued at $143,376,000 after buying an additional 434,800 shares during the period. Geode Capital Management LLC boosted its stake in shares of Timken by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company’s stock worth $90,477,000 after buying an additional 5,970 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Timken by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 783,560 shares of the industrial products company’s stock worth $55,928,000 after acquiring an additional 30,411 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have commented on TKR. Evercore ISI upped their price objective on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Oppenheimer cut their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citigroup lowered their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, DA Davidson cut their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Timken currently has an average rating of “Moderate Buy” and a consensus target price of $92.70.
Get Our Latest Stock Analysis on TKR
Timken Stock Up 0.7 %
TKR opened at $80.18 on Thursday. The company has a market cap of $5.61 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.51 and a beta of 1.39. The Timken Company has a twelve month low of $69.35 and a twelve month high of $94.71. The company has a 50-day moving average price of $76.97 and a 200 day moving average price of $79.31. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.
Timken (NYSE:TKR – Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Sell-side analysts expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.
Timken Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 1.70%. Timken’s payout ratio is currently 27.25%.
Insiders Place Their Bets
In other news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 8.70% of the stock is currently owned by corporate insiders.
Timken Company Profile
(Free Report)
The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company’s Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.
Further Reading
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